hedge fund managers

  • 31 Jul 2014 at 12:02 PM

Bill Ackman Is Sorry You Got Your Hopes Up

Remember, last week, when Bill Ackman gave a presentation about Herbalife, the company he is shorting? And the day prior, went on CNBC to announce the event, telling viewers they would learn “why Herbalife is going to collapse”? And described the presentation as “the most important” one of his career? And back at Pershing Square, told his advisors “fuck the webcast, I want to look into people’s eyes,” upgrading the talk to a live show at the AXA building in midtown? And made the case that, despite having spent hundreds of hours publicly excoriating Herbalife already, this was the event that people needed to see? And noted that he was “raising expectations” but “would not disappoint”? He realizes now it’s possible he should’ve dialed down the enthusiasm just a bit. Read more »

The day the Feds start listening to Ackman and shut down Herbalife will surely take the cake, but until then, this will have to do: Read more »

Something you probably know about Steve Cohen is that the last number of years have not been so kind to him. Almost a dozen of his employees have been charged with and convicted of securities fraud. The government won’t let him manage outside money. He had to rename his fund, rendering a warehouse full of SAC fleeces useless. No one will buy his apartment. The New York Times thinks his house is only 14,000 square feet. He just wrote a check for $848 million, money that could’ve gone toward Super Duper Weenie products or Guy Fieri cookbooks. It’d be enough to make anyone want to get into bed, pull the covers over their head, and shut out the world, which is exactly what Cohen was doing earlier this year.

So when his wife wanted to attend a little party in East Hampton this weekend, it surely took some convincing. “It’ll be good to get out, Steve,” she probably said. “I bet they’ll serve cocktail franks.” “Alec Baldwin will be there; you loved him in Glengarry Glen Ross and Along Came Polly.”

One or all of these temptations clearly struck a chord, and Cohen decided that yes, he would be nice to get out and mingle. Unfortunately, he didn’t realize that Bloomberg‘s exacting eye would be watching. Read more »

As you’ve probably heard by now, Bill Ackman gave a little presentation yesterday, on his favorite supplement and diet shakes company, Herbalife. Prior to the event, the Pershing Square founder appeared on CNBC hyping up the thing so hard that he came extremely close to promising video of CEO Michael Johnson threatening to fire employees who refused to snort lethal dosages of Formula 1 Healthy Nutritional Shake Mix (Wild Berry flavor) up their noses. So when the presentation failed to deliver, the disappointment across Wall Street was palpable. Pershing Square investors, however, know a good thing when they see it, and are unfazed. Read more »

Yesterday afternoon, hedge fund manager Bill Ackman made a bold statement. A presentation delivered live in midtown Tuesday morning was to be “the most important” one of his career and at the end of it, we would “learn why Herbalife is going to collapse.” On CNBC, he acknowledged that he was “raising expectations,” but assured the public it would not be disappointed. How’d he do? That all depends on what you were hoping for. If it was a PowerPoint that convinced the market that Herbalife, Ackman’s sworn enemy, was going down for the dirt nap, then technically, the hedge fund manager probably disappointed you a little.

Herbalife Ltd.’s shares jumped as much as 14 percent after hedge-fund manager Bill Ackman struggled to convince investors that the seller of weight-loss shakes is guilty of fraud.

On the other hand, if you were hoping for a presentation filled with passion, courage, feeling, and above all, patriotism, your expectations were met and then some. Read more »

Hedge fund manager Bill Ackman has given many momentous presentations in his day: the unveiling of his Herbalife short, his highly emotional address of Target shareholders, and all matters of MBIA. But believe him when he says such things will absolutely pale in comparison to tomorrow’s event. Forget the thousands of hours he’s already spent publicly lambasting Herbalife’s business practices in the past. THIS is the one you REALLY have to listen to. It will be the final word on diet shakes. Read more »

You could also one day read about Griffin signing with the Bulls as their new shooting guard but, again… Read more »